Nikkei 225 · October 29, 1999
The day the tech boom reached Japan
+3.03%
single-day change vs previous close
Part of a longer stretch
The IT rally
near the end of it · 1998-10-09 → 2000-04-12, +61.75% over the whole period
What happened that day?
- The Nikkei 225 rose 3.03% on the day
- There was no single event; it sat in the middle of a run in technology shares that lasted through 1999
- With the US Nasdaq soaring, telecom, software and internet shares rose hard in Japan too
- Japan had something more: a mobile internet service from its telecom carrier that people genuinely used. It was the country furthest ahead in the world at using the internet on a phone
- So the advance here was not only imitation of America; there were real users behind part of the story
- But prices ran far ahead of that story, and from April 2000 they broke together
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.